Track your Square COGS with accuracy. Craftybase takes care of the time-intensive calculations you don't want to do, so you can concentrate on growing your business.
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Trusted by makers worldwide
Take control of complex production processes. From COGS, raw materials to finished goods, and everything in between, Craftybase seamlessly manages multi-stage production processes — including components, sub-assemblies, and batch recipes. When production is complete, your Square stock levels update automatically via Stock Push, closing the loop from cost tracking to inventory.
Never miss a beat, with our sophisticated inventory management features. Gain real-time visibility into material and stock levels, so you’ll know exactly when to order more supplies or make more products. Access sortable, searchable lists of all your material inventory - with photos - available online, wherever you are. Keep your inventory under control so your business is free to grow.
Keep your manufacturing business fully compliant. Our robust purchase-to-sale GMP solution offers batch and lot tracking, supply chain traceability, and expiry date features, empowering you - even during a product recall. Access accurate information with complete confidence.
Make informed decisions with our powerful analytics and reporting capabilities. Dive deep into manufacturing analytics, costs, margins and profitability. Identify business improvement opportunities with comprehensive COGS (Cost of Goods Sold) and BOM (Bill of Materials) tracking. Harness the power of data to optimize your operations.
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Import orders automatically and sync stock levels across all your channels — so you never oversell or run out of stock.
Scalable Solutions
As your business expands, the Craftybase platform grows with you. Experience the power of an integrated MRP system specifically designed for small businesses like yours. Flexible plans to fit your industry, workflows, and preferences.
No long term contracts, no over-engineered over-priced features you'll never use. Just everything you need to unlock the full potential of your small-batch business.
I'm impressed with the ability to track minute quantities of essential oils and other materials used in multiple products. I love the conversion from purchase to tracking units, and love the ability to make components and recipes.
Craftybase makes it easy to create my formulas and automatically calculates what I need to use, when to re-order, how much it costs me to make my products, and so much more. I literally could not function without it!
This report makes tax time almost enjoyable. No more lists and spreadsheets — I just run the report for the time I need, and it's done!
Craftybase has given me the tools amp; resources to accurately track my materials, recipes, and inventory. I love that I can build out my recipes and make adjustments to see my cost in real time.
We do not know what we would do without this application. Spreadsheets and confusing documents is a thing of the past now!
I love that the app keeps track of how much material I have on hand and how much it costs me exactly… This allows me to really know how much my products cost me to make and how much I should charge.
My favourite feature is the software's ability to calculate the cost of our products in real-time, taking into account the increase in the costs of raw materials.
Craftybase is an instrumental part of our bookkeeping. Having a business that manufactures products with countless raw materials, Craftybase keeps us organized and helps us have a clear picture of the health of our business.
I love that Craftybase keeps track of the cost of materials over time including shipping. As costs creep up I can make sure my product prices reflect that reality.
Craftybase allows us to be lean with our materials inventory so we won't have any overage of inventory. It provides a great easy-to-use analysis of COGS to help us better manage our margins.
Craftybase helps me keep my sales automatically entered into my system so that I can get on with doing the fun part: the creative products I make!
It's super important that we can record and trace ingredient lots and production batches. Craftybase has made this process streamlined and easy to stay organized.
Unlock the full potential of your small business. Join the ranks of successful manufacturing businesses and revolutionize the way you operate. Get started today.
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Square COGS FAQ
To include COGS in Square, you need to use the Cost per Item feature. This feature will accurately track your costs as long as you are updating it when there are changes. Additionally, you need to calculate COGS for tax purposes. To do this, you need to use the formula: COGS = Beginning Inventory + Purchases - Ending Inventory. You also need to account for any fluctuations in cost per item, such as varying supplier costs or multiple shipments throughout the year. Finally, you must perform an end-of-the-year inventory count to get an accurate value of your ending inventory. By accounting for these factors, you can accurately include COGS in Square and accurately itemize COGS on your Square Schedule C report.
Craftybase is an app designed to help Square sellers accurately track their COGS. It allows users to enter purchase orders, sales records, and inventory levels into the app so that it can automatically calculate accurate COGS figures. The app also provides reporting tools for users to view their expenses and profits more clearly, giving them a better understanding of their business. Additionally, the app can track inventory levels in real-time, helping users stay on top of their stock levels and making sure they don't end up with too much or too little inventory. This helps keep their costs low and their profits high. With Craftybase, Square sellers can easily manage their COGS accurately and efficiently.
The COGS report in Square can be found under the ‘Reports’ tab. From there, select ‘COGS’ from the left hand menu and a summary of your Cost of Goods Sold will appear. This report is an overview of your COGS for the current period, showing you how much you have spent on inventory for the period, and how much you have sold. This report is updated automatically when new orders are placed or payments are taken, based on the costs you have entered in per item. This way of calculating COGS isn't as accurate as using a dedicated app such as Craftybase, but it still provides helpful insights into your business.
Streamline your end-to-end manufacturing process and gain real-time visibility into your inventory.
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